A minority of the Crystal Lake Park Board seem to want to buy the old Centegra, now Northwestern Medical fitness center and pools.
They, being urged on by Crystal Lake Mayor Haig Haleblian, envision is as a community center and new District headquarters.
Doing due diligence to figure out how such a purchase might be purchased, Executive Director Jason Herbster asked the Realtor handing the possible sale from developer John Green, who apparently has an option on HealthBridge for an estimate of the value of the current office building, converted from a savings and loan.
Realtor Tim Billimack of Blue Chip Commercial Real Estate, LLC, provided this estimate:
“With the assumption that fair market value is the result of an arms’ length transaction occurring within a reasonable, non-duress period of marketing, I am of the opinion that the current fair market value of the main floor office areas is approximately $936,000 (8,000 SF x $117 SF) and the lower-level office space is approximately $400,000 (8,000 SF x $50 SF).”
His total estimated value is $1,336,000 ($83.50 SF).
Of course, if the Board wanted to sell off property, it has the Christ farm northeast of Briarwood and route 176 which is now planted in row crops. It could be developed as a subdivision; sewer and water run right to it.
And there is that church property just east of Briarwood on 176 which I never could figure out why it was purchased.
